LAS VEGAS (KLAS) — Unemployment insurance money will run out in less than eight weeks, according to a weekly report released on the Nevada Department of Employment, Training & Rehabilitation’s (DETR) website Friday.
DETR had almost $2 billion in funds as of March 21, just days after Gov. Sisolak issued the statewide shutdown because of the coronavirus pandemic.
After distributing more than $127 million in unemployed claims this week, the DETR has less than $800 million left.
The agency can borrow money from the federal government, but would have to pay that money back.
Nevada’s current unemployment rate is at 20.9%, according to DETR.
For the second consecutive week, the number of weekly claims filed for regular unemployment benefits has increased. Initial claims filed in the week ending on July 4 were 12,484. There have been 540,834 claims filed since March 14.
